A renewable energy grid needs more energy storage. By 2050 it's estimated that NEM (Australian East Coast National Energy Market) Energy Storage will need to increase by 400 times to meet consumer needs. By 2050 its estimated that just 25% of EV Storage capacity would meet the entirety of the grids needs. By harnessing this capacity we need to build significantly less energy storage infrastructure - saving money and the planet. V2G is estimated to offset $94B in large scale Battery Energy Storage Systems (BESS) in the NEM alone, with an install cost of capital at ~6% that of BESS Systems per MWh.
Financial modelling completed by EnX on behalf of ARENA shows how V2G can generate net income for EV Owners of the lifespan of an electric Vehicle under realistic assumptions. This income is on top of any charging energy costs. Not only is charging your car free - but you can make income in addition to that by intelligently sourcing power to the grid through V2G. V2G has significant economic upside (more than double) when compared to purely Smart Charging.
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V2G technology represents a massive market and will be a critical part of the worlds future energy, however the technology is still in its infancy:
The challenges are a natural part of any emerging new technology.
Increased charge/discharge cycles can reduce battery life however V2G often only uses a small total capacity of the vehicle battery and often not for long periods. Compared to driving wear can often be minimal.
Some studies even show that managed V2G can potentially improve battery health. Keeping the battery within a specific charge range (avoiding full charges and deep discharges) and optimizing discharge depth can slow down degradation.
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